By Stephen NakrosisS&P Global Ratings said Friday it raised its outlook on the U.K. to stable from negative. The agency also said it was affirming its AA/A-1+ unsolicited long- and short-term foreign and local currency sovereign ratings. The outlook reflects stronger recent economic performance by the U.K., as well as more contained budget deficits over the next two years, according to S&P. S&P also said it expects net general government debt to begin declining from a high 97.7% of GDP this year. Also on Friday, S&P revised the outlook on the AA long-term foreign and local currency ratings on the Bank of England to stable from negative.

Source: Wall Street Journal April 22, 2023 08:56 UTC